Sexy sleeping beauty Holly Madison hosts second annual Studio 54 Las Vegas Hollyween at Nightmare on 54th Street on Saturday, October 30, 2010. Costumed partiers buzzed with excitement at MGM Grand as they made their way to the $5,000 Halloween celebration in the iconic nightclub.

Anticipation grew as the sexy and spooky revelers guessed what costume the PEEPSHOW Las Vegas show star would be wearing. The crowd went wild when Holly arrived dressed the part of Disney princess Aurora from Sleeping Beauty.

A perfect match for Sleeping Beauty, Holly looked sexy in a hot pink sparkling mini-dress showcasing the features that helped make her famous with a bedazzled gold crown topping her blonde hair and a gorgeous pair of glittering pink pumps.

On the carpet, Holly spoke of why she loves hosting at the legendary nightclub saying, “Studio 54 is the biggest club in Vegas, they always have an amazing Halloween week. They always have lots of aerial acts and really cool things going on [here], so it’s the perfect place for a Halloween party.”

Rarely without her Holly’s World counterparts, Angel Porrino, Josh Strickland and Laura Croft arrived ready to celebrate the holiday with the blonde beauty. Sticking with the Disney theme, Laura played the part of fellow princess Belle from Beauty and the Beast in a short gold dress and classic white gloves.

Feeling too sexy to dress as a princess, Angel arrived in character as furry skunk Flower from Bambi – definitely the hottest skunk Vegas has ever seen! Josh dressed as a pirate complete with oversized hat and lots of swagger.

The Holly’s World crew were seen in the VIP area above the crowd, where they had an amazing view of the performances on stage. All eyes focused on the stage as Ne-Yo’s Beautiful Monster began playing and scantily clad dancers transformed into sexy spiders for an unbelievable performance on a massive spider web.

Excited for the costume contest, Holly tweeted to fans “So many amazing costumes at Studio 54! I can’t wait to see who wins the contest tonight!” After another amazing performance by the Studio 54 dancers, the lights dimmed and confetti flew as the sexiest Halloween host descended to the stage on an aerial swing!

Studio 54 Nightmare on 54th Street

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Holly Madison

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The crowd cheered ecstatically as they snapped pictures of the bombshell as she kicked off the costume contest. Joined on stage by resident DJ Loczi who donned a furry bird costume, Holly commanded, “Show me your Big Bird!”

Shrek Costume

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Male Nurse Costume

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Holly Madison at Hollyween

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Contestants lined up backstage hopeful to win the coveted $5,000 cash prizes for most original and sexiest costumes. The audience screamed for their favorite costumes and, for the first time ever, awarded a tie between the creative outfits of Neytiri from Avatar and a World of Warcraft fanatic.

Avatar Costume

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Creature Costume

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Avatar Costume at Nightmare at 54th Street

Photo Credit: Erik Kabik/Retna/erikkabik.com

Things heated up as the sexiest contestants took the stage in their most scandalous outfits. There was no question to first place when Holly named the barely-there Garden of Eden the winner!

Garden of Eve Costume Winner

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Garden of Eve Costume Winner at Hollyween

Photo Credit: Erik Kabik/Retna/erikkabik.com

Wishing the fabulously attired crowd a “Happy Hollyween,” Sleeping Beauty made her way back upstairs where she continued to revel in the Halloween party atmosphere until early the next morning.